Barington Capital urged Victoria's Secret to replace its board with directors experienced in brand revitalization, criticizing CEO Hillary Super's leadership strategy.

Shares of Victoria's Secret are rising in premarket trading Monday following a report that activist investor Barington Capital Group has built a stake in the struggling lingerie company.

One of Victoria’s Secret & Co.’s biggest investors called for a board overhaul after accusing the company of “continued mismanagement” and “disastrous board-level decisions.”